Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
Permuto has introduced ShopperConnect as an all-inclusive shopping network and advertising platform with built-in analytics and the ability to target ads based on shoppers’ interests and measure the impact on sales.
Permuto Inc. has introduced ShopperConnect as an all-inclusive shopping network and advertising platform with built-in analytics and the ability to target ads based on shoppers’ interests and measure the impact on sales.
The ShopperConnect network is designed to encompass online retailers, comparison shopping engines, product review sites, product-oriented blogs covering consumer products and other types of web sites related to online retailing, though Permuto has not yet released the names of participating companies, a spokeswoman says.
Using the ShopperConnect suite of software applications, advertisers can serve up display ads on the network’s sites that relate to specific interests network shoppers have shown in past online shopping sessions, then measure figures on click-throughs, conversion rates and online sales tied to each ad, Permuto says.
“Permuto’s ShopperConnect is the perfect solution for footwear retailer Heels.com to re-engage customers and keep them coming back for excellent deals and offers thanks to the dynamic, highly targeted display ads that Permuto is able to serve,” says Eric McCoy, CEO of Heels.com. “Not only do our customers enjoy the enhanced online shopping experience, but our marketing department appreciates the advanced measurability and analytics that ShopperConnect provides. Not since our text-based search ad campaigns have we enjoyed this type of return on investment-and we can’t wait to see how it will impact holiday sales.”
Munjal Shah, CEO of Like.com, a comparison shopping engine that lets shoppers search by product images, says ShopperConnect’s display ads complement Like.com’s branding strategy.
“At Like.com, we believe the visual side of online shopping is crucial, as it’s extremely difficult to describe your ideal pair of earrings or shoe by typing in search terms,” he says. “Permuto lets us keep the visual branding for our display ads-the same look and feel that customers have come to expect on our site, coupled with fantastic visibility into our target audience, product categories, shopping activity, performance and billing.”
Permuto is headed by co-founder and CEO Shaukat Shamim, who before Permuto founded Rhythm NewMedia, a mobile video advertising company. Permuto is backed financially by Rembrandt Ventures, Onset Ventures, Reid Hoffman and SofTech VC. It raised $6.05 million in Series A funding from these firms last October.